Synergy Financial Group LTD Sells 328 Shares of Cloudflare, Inc. (NYSE:NET)

Synergy Financial Group LTD cut its stake in shares of Cloudflare, Inc. (NYSE:NET) by 8.5% during the 4th quarter, HoldingsChannel reports. The firm owned 3,545 shares of the company’s stock after selling 328 shares during the period. Synergy Financial Group LTD’s holdings in Cloudflare were worth $382,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in NET. Stratos Wealth Partners LTD. raised its holdings in Cloudflare by 1.2% during the 4th quarter. Stratos Wealth Partners LTD. now owns 6,583 shares of the company’s stock worth $709,000 after purchasing an additional 77 shares during the last quarter. Atomi Financial Group Inc. increased its position in shares of Cloudflare by 3.3% during the fourth quarter. Atomi Financial Group Inc. now owns 2,966 shares of the company’s stock worth $319,000 after buying an additional 94 shares during the period. Chicago Partners Investment Group LLC increased its position in shares of Cloudflare by 4.3% during the fourth quarter. Chicago Partners Investment Group LLC now owns 2,529 shares of the company’s stock worth $293,000 after buying an additional 105 shares during the period. D.A. Davidson & CO. raised its stake in Cloudflare by 0.5% during the fourth quarter. D.A. Davidson & CO. now owns 21,075 shares of the company’s stock worth $2,269,000 after buying an additional 106 shares during the last quarter. Finally, Wealth Management Partners LLC lifted its holdings in Cloudflare by 3.3% in the fourth quarter. Wealth Management Partners LLC now owns 3,549 shares of the company’s stock valued at $382,000 after buying an additional 114 shares during the period. 82.68% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on NET. JMP Securities lifted their target price on Cloudflare from $135.00 to $180.00 and gave the stock a “market outperform” rating in a report on Friday, February 7th. Cantor Fitzgerald lifted their price objective on shares of Cloudflare from $111.00 to $149.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. UBS Group increased their target price on shares of Cloudflare from $130.00 to $165.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Guggenheim raised their price target on shares of Cloudflare from $57.00 to $68.00 and gave the stock a “sell” rating in a report on Friday, February 7th. Finally, Oppenheimer lowered shares of Cloudflare from an “outperform” rating to a “market perform” rating in a report on Friday, February 7th. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Cloudflare has a consensus rating of “Hold” and a consensus target price of $136.28.

Insider Activity at Cloudflare

In other Cloudflare news, COO Michelle Zatlyn sold 25,640 shares of Cloudflare stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $100.44, for a total transaction of $2,575,281.60. Following the completion of the sale, the chief operating officer now directly owns 172,959 shares in the company, valued at $17,372,001.96. The trade was a 12.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $113.00, for a total transaction of $5,919,392.00. Following the completion of the transaction, the chief executive officer now owns 10,762 shares of the company’s stock, valued at $1,216,106. This trade represents a 82.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 558,918 shares of company stock valued at $68,709,509. Company insiders own 12.83% of the company’s stock.

Cloudflare Stock Down 2.7 %

Shares of NYSE NET opened at $147.92 on Tuesday. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The company has a market cap of $50.76 billion, a P/E ratio of -672.35 and a beta of 1.12. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $177.37. The business has a 50-day simple moving average of $130.77 and a two-hundred day simple moving average of $103.96.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. Research analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

About Cloudflare

Cloudflare, Inc operates as a cloud services provider that delivers a range of services to businesses worldwide. The company provides an integrated cloud-based security solution to secure a range of combination of platforms, including public cloud, private cloud, on-premise, software-as-a-service applications, and IoT devices; and website and application security products comprising web application firewall, bot management, distributed denial of service, API gateways, SSL/TLS encryption, script management, security center, and rate limiting products.